Smead Capital Management Inc. reduced its stake in The Home Depot Inc. (NYSE:HD) by 5.8% during the third quarter, Holdings Channel reports. The institutional investor owned 593,998 shares of the home improvement retailer’s stock after selling 36,832 shares during the period. The Home Depot accounts for approximately 3.6% of Smead Capital Management Inc.’s investment portfolio, making the stock its 14th largest position. Smead Capital Management Inc.’s holdings in The Home Depot were worth $76,436,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of HD. Cohen & Steers Inc. boosted its stake in shares of The Home Depot by 37,680.1% in the second quarter. Cohen & Steers Inc. now owns 35,400,000 shares of the home improvement retailer’s stock valued at $32,480,000 after buying an additional 35,306,300 shares in the last quarter. Bank of Montreal Can bought a new position in The Home Depot during the second quarter valued at approximately $337,042,000. FMR LLC raised its position in The Home Depot by 2.3% in the second quarter. FMR LLC now owns 41,090,288 shares of the home improvement retailer’s stock valued at $5,246,819,000 after buying an additional 931,070 shares during the last quarter. Green Valley Investors LLC raised its position in The Home Depot by 366.2% in the second quarter. Green Valley Investors LLC now owns 801,164 shares of the home improvement retailer’s stock valued at $102,301,000 after buying an additional 629,316 shares during the last quarter. Finally, Acadian Asset Management LLC raised its position in The Home Depot by 261.8% in the third quarter. Acadian Asset Management LLC now owns 670,707 shares of the home improvement retailer’s stock valued at $86,305,000 after buying an additional 485,349 shares during the last quarter. Institutional investors and hedge funds own 70.22% of the company’s stock.
The Home Depot Inc. (NYSE:HD) opened at 136.16 on Thursday. The Home Depot Inc. has a 12 month low of $109.62 and a 12 month high of $139.00. The stock has a market cap of $165.86 billion, a P/E ratio of 22.10 and a beta of 1.09. The firm’s 50-day moving average price is $134.14 and its 200-day moving average price is $131.39.
The Home Depot (NYSE:HD) last posted its earnings results on Tuesday, November 15th. The home improvement retailer reported $1.60 EPS for the quarter, topping the Zacks’ consensus estimate of $1.58 by $0.02. The Home Depot had a return on equity of 123.29% and a net margin of 8.23%. The business had revenue of $23.20 billion for the quarter, compared to analysts’ expectations of $23.05 billion. During the same quarter in the previous year, the firm earned $1.36 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that The Home Depot Inc. will post $6.34 earnings per share for the current year.
Several research analysts have recently commented on the company. Bank of America Corp. reissued a “buy” rating and issued a $128.72 price target (up from $127.67) on shares of The Home Depot in a research report on Tuesday, November 15th. Vetr lowered The Home Depot from a “sell” rating to a “strong sell” rating and set a $119.51 price target for the company. in a research report on Thursday, December 22nd. Wedbush reissued a “neutral” rating and issued a $145.00 price target on shares of The Home Depot in a research report on Friday, December 16th. Citigroup Inc. reissued a “buy” rating on shares of The Home Depot in a research report on Wednesday, December 28th. Finally, Jefferies Group reissued a “buy” rating and issued a $149.00 price target on shares of The Home Depot in a research report on Wednesday, November 16th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $144.68.
In related news, Director Mark C. Vadon purchased 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 29th. The shares were purchased at an average price of $129.87 per share, for a total transaction of $1,948,050.00. Following the transaction, the director now directly owns 31,095 shares of the company’s stock, valued at approximately $4,038,307.65. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Edward P. Decker sold 20,000 shares of the business’s stock in a transaction dated Tuesday, November 22nd. The shares were sold at an average price of $130.80, for a total value of $2,616,000.00. Following the completion of the transaction, the executive vice president now owns 63,878 shares in the company, valued at approximately $8,355,242.40. The disclosure for this sale can be found here. Insiders own 0.26% of the company’s stock.
About The Home Depot
The Home Depot, Inc (The Home Depot) is a home improvement retailer. The Company sells an assortment of building materials, home improvement products, and lawn and garden products, and provides various services. The Home Depot stores serve three primary customer groups: do-it-yourself (DIY) customers, do-it-for-me (DIFM) customers and professional customers.
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